Raymond James Financial Inc. Invests $6.89 Million in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Raymond James Financial Inc. bought a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) in the fourth quarter, HoldingsChannel reports. The fund bought 329,980 shares of the biopharmaceutical company’s stock, valued at approximately $6,887,000.

Other institutional investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Catalyst Pharmaceuticals in the 4th quarter valued at $27,000. Larson Financial Group LLC boosted its holdings in Catalyst Pharmaceuticals by 27,218.2% in the third quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 2,994 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Catalyst Pharmaceuticals during the fourth quarter valued at about $65,000. KBC Group NV grew its position in Catalyst Pharmaceuticals by 48.8% during the fourth quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company’s stock valued at $98,000 after acquiring an additional 1,542 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Catalyst Pharmaceuticals during the fourth quarter worth about $134,000. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CPRX shares. Bank of America reiterated a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Robert W. Baird lifted their target price on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Baird R W upgraded Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Monday, February 3rd. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Catalyst Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $32.29.

Insider Activity at Catalyst Pharmaceuticals

In related news, insider Gary Ingenito sold 44,904 shares of Catalyst Pharmaceuticals stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total value of $991,929.36. Following the completion of the sale, the insider now owns 68,873 shares in the company, valued at approximately $1,521,404.57. The trade was a 39.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Elsbernd sold 62,975 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $22.98, for a total transaction of $1,447,165.50. Following the completion of the sale, the insider now directly owns 188,564 shares in the company, valued at $4,333,200.72. This represents a 25.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by company insiders.

Catalyst Pharmaceuticals Price Performance

NASDAQ:CPRX opened at $24.23 on Monday. The firm has a 50-day moving average of $22.39 and a two-hundred day moving average of $21.63. The stock has a market cap of $2.94 billion, a P/E ratio of 20.53, a PEG ratio of 3.31 and a beta of 0.84. Catalyst Pharmaceuticals, Inc. has a 1-year low of $14.47 and a 1-year high of $24.64.

Catalyst Pharmaceuticals Profile

Catalyst Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases in the United States. It offers Firdapse, an amifampridine phosphate tablets for the treatment of patients with lambert-eaton myasthenic syndrome (LEMS); and Ruzurgi for the treatment of pediatric LEMS patients.